downstream
According to an interview of Mr Fu Chengyu, who became chairman of Sinopec‘s parent in April, to Bloomberg, Sinopec is considering to sell its chemical assets in the next five years in order to finance its overseas development. Benchmarking the Majors like ExxonMobil or Shell, Sinopec wants to balance it Upstream activities and Downstream business. With profitability […]
Definition: “Petrochemical” comes from the Ancient Greek language where “Petro” means “rock” in referring to these rocks, “Petro”, producing “oleum” meaning “oil” to become “petro-oleum”, the “oil of rocks”. Therefore the word “Petrochemical” has been originally given to the chemistry issued from the oil. Comments: From process perspective, the “Petrochemical” industry begins where the “Refining” or […]
Total joins Kuwait Petroleum Corp. (KPC) represented by its wholly-owned subsidiaries Kuwait Petroleum International (KPI) and Petrochemicals Industries Co. (PIC) in the Joined Venture with Sinopec for this $9 billion “Refinery” and “Petrochemical” complex at Zhanjiang, in China’s southern Guangdong province. In fact Total took the opportunity to substitute Shell which had pulled out of […]
“Downstream” covers all the chain of transformations of the oil or gas after the transportation (Midstream). It begins with the refining and it continues with all the cracking operations of the petrochemical industry to produce all the chain of chemical products (Ethylene, Polyethylene, Propylene, Polypropylene, etc…) Comments: By comparison with the “Upstream” (Exploration & Production) […]
Definition: The “NOC” acronym means “National Oil Companies” and refers to the local oil producing companies owned by their respective government. Therefore there are nearly as many “NOCs” as countries in the world, but the most famous ones are: Saudi Aramco, Gazprom, Statoil, Petrochina, Sinopec, Petrobras, ADNOC, Qatar Petroleum, etc…. Comment: Historically the “NOCs” used […]
